Emission Monitoring System Market to Cross US$ 12.1 Billion at 6% CAGR by 2034

Integration of AI and ML Leading to Development of Advanced Emission Monitoring Systems: Fact.MR Analysis

ROCKVILLE, MARYLAND, UNITED STATES, May 21, 2024 /EINPresswire.com/ -- Strict legal and environmental regulations are driving higher need for advanced emission monitoring systems According to this updated study by Fact.MR, the global emission monitoring system market has been analyzed and is projected to increase from a size of US$ 6.7 billion in 2024 to US$ 12.1 billion by the end of 2034.

Companies across the world are leveraging sustainable practices into their day to day operational cycle. Industries need to meet strict emission limits, which is driving demand for emission monitoring systems. The Paris agreement and other environmental agreements are focused on the mitigation of greenhouse gas emissions. Various industries across the globe releases toxic and VOC gases which are harmful for environment and as well for humans, to mitigate this issue the need for advanced emission monitoring systems is increasing.

Technological advancements such as integration of artificial intelligence (AI), machine learning (ML), predictive analysis, and Internet of Things (IoT) are increasing the features of emission monitoring systems. End users across the globe are driving the demand for advanced emission monitoring technologies to mitigate and to have an effective control on gas emissions.

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Key Takeaways from Market Study

Global demand for emission monitoring systems is anticipated to rise at a CAGR of 6% from 2024 to 2034. The United States market is projected to reach US$ 1.7 billion by 2034. Japan is estimated to hold 28.9% of the East Asia market share in 2024. Sales of continuous emission monitoring systems are forecasted to reach US$ 7 billion by 2034.

“Several countries worldwide are utilizing coal for energy production, which is directly increasing the adoption of emission monitoring systems,” says a Fact.MR analyst.

Regional Analysis

North America and Europe are big markets for emission monitoring system providers. This can be due to strict environmental regulations and presence of strong end users. Furthermore, South Asia & Pacific and East Asia are emerging as fastest growing markets due to ongoing industrial activities and high use of coal for electricity production.

India and China are major consumers of coal. These countries make high use of coal to generate electricity, which is further driving the need for effective emission monitoring systems. Leading companies manufacturing emission monitoring systems are also continuously investing in R&D to enhance the capabilities of their solutions.

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Growing Industrial Activities and Sustainability Trends Boost Emission Monitoring System Adoption

Increasing industrial activities and the rising popularity of sustainability are expected to drive the adoption of emission monitoring systems in the United States. Strict regulations in end-use industries such as mining, refining, and manufacturing are generating profitable opportunities for emission monitoring system providers.

Critical Regions for Emission Monitoring Systems: South Asia & Pacific and East Asia

South Asia & Pacific and East Asia are among the most critical regions for coal-fired power generation. Countries like China and India are major consumers of coal for electricity production, directly fueling the demand for emission monitoring systems in these areas.

China and India: Major Consumers of Coal

China has seen a significant increase in coal-fired power output, followed closely by India. According to the United States Energy Information Administration, China is the world's largest coal consumer, using coal for over 70% of its electricity.

Projected Growth in India's Coal-fired Power Generation

India's Ministry of Power predicted a 22.4% increase in coal-fired power generation capacity in 2022, reaching 238 GW.

Opportunities for Emission Monitoring System Providers

The construction of new coal-fired power plants in China and India aims to bring electrification to the developing world and secure economic growth. This development is likely to create profitable opportunities for key players in the emission monitoring system market.

More Valuable Insights on Offer

Fact.MR, in its new offering, presents an unbiased analysis of the global emission monitoring system market, presenting historical demand data (2018 to 2023) and forecast statistics for the period (2024 to 2034).

The study divulges essential insights on the market based on technology (continuous emission monitoring systems (CEMS), predictive emission monitoring systems (PEMS)), offering (hardware, software, service), and industry vertical (oil & gas, chemicals & fertilizers, healthcare, pulp & paper, energy, others), across six major regions of the world (North America, Latin America, Europe, East Asia, South Asia & Oceania, and MEA).

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